TradingEW
Long

FTSE - a clear EW pattern

INDEX:FTSE   FTSE 100 Index
96 7 1
Completed a 2.5 years of correction (4), now advancing on the (5)the wave of an expanding Diagonal (C).
Your 1 doesn't look impulsive to me.
+2 Reply
TradingEW IvanLabrie
Indeed, (1) is a zigzag, being the 1st wave of expanding diagonal (C).
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I think both Robert Pretcher and Glenn Neely agree that the 1998 top was an impulse conclusion, and the next legs A and B (we've ended B recently)
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IvanLabrie PRO IvanLabrie
Sorry, was not 100% when I posted. Was looking at an S&P chart in my mind. My bad.
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Hi, and what about more obvious huge a-e triangle from 2009, recently broken down?
+1 Reply
TradingEW look4edge
Tried out with your suggestion, it's a possible alternate count for consideration if it breaks down further, thank you.
https://i.gyazo.com/9734d6a3a96afed56f20173e7b2e04a6.png
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look4edge TradingEW
Hi, or other option, could be also ending diagonal - it could be only wave C - in this case part of X of WXY correction started 2000...
Or maybe even leading diagonal??? not so likely but... in QE distorted markets....
Pattern is clearly done as slow CCI is indicating
snapshot
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